The finance ministry may prevent PSU banks from introducing new teaser home loan schemes, as it wants to avert a rate war that can lead to a rise in non-performing assets of the banks. Major private sector banks HDFC and ICICI Bank reintroduced their teaser loan schemes this month after State Bank of India decided… Read More »
Japanese car manufacturer Nissan Motor India has started test trials of exporting its cars to Europe. The first trial shipment of 6 cars was dispatched to Barcelona from its Oragadam plant via the Ennore Port, a statement from the company said.
To boost its market share, bike manufacturer Yamaha launched new models of its premium division bikes FZ16 and FZ-S with some extra features, costing Rs 65,000 and Rs 67,000 (ex-showroom, Delhi), respectively.
Mitsubishi Motors, is looking to penetrate into1.2 million a year Indian small car market and is thinking of introducing a compact family hatchback over the next 3-4 years.
Public sector bank, Indian Bank has set youth as its new target customer. The bank has prepared a plan to entice the youth via totally automated branches this fiscal. An official said that in this fiscal, the bank would establish 5 totally automated branches.
RBI has strictly directed banks to make mobile and phone banking safer to avert identity frauds in non branch banking services. The banks will now have to install an extra cover guaranteeing the legitimacy of the customer carrying out the debit or credit card transaction through the phone. If they fail to do so then… Read More »
India’s biggest public sector bank. State Bank of India is the first bank to venture into green power by establishing windmills. SBI has ventured into green energy in order to become energy neutral in the future, the statement from the bank said.
Maruti Suzuki India posted approximately three-fold leap in net profit at Rs 656.55 crore (Rs 6.56 billion) for the quarter ending March 31, 2010. The company had reported a net profit of Rs 243.13 crore (Rs 2.43 billion) in the matching quarter of 2008-09 fiscal, according to the statement made by Maruti Suzuki India to… Read More »
The public sector banks may be prevented from introducing any new teaser home loan schemes by the Finance Ministry. The intention of doing this is to prevent any occurrence of rate war between the banks, thus causing increasing NPA levels.
After reducing its retail loan book for 7 quarters right from the start of 2008-09, ICICI Bank has started increasing its loan book. The loan book of the bank, including car loans has posted an increase of Rs. 1,81,206 crore on 31st March 2010 as against Rs 179,269 crore in the earlier quarter.